Summary
Deere & Company (DE) announced on December 1, 2010, a significant increase in its quarterly dividend for common stock. The Board of Directors approved raising the dividend to $0.35 per share, a 17% increase from the previous rate, reflecting a $0.05 per share hike. This move underscores management's confidence in the company's future direction and its commitment to enhancing shareholder value. The dividend is scheduled to be paid on February 1, 2011, to shareholders of record as of December 31, 2010. This dividend increase is the eighth such raise since early 2004, highlighting a consistent strategy of returning capital to investors. Management emphasized that this action aligns with their objective to create long-term shareholder value by sharpening the company's strategic focus and concentrating resources on growing its core equipment businesses globally. Investors should view this as a positive signal regarding Deere's operational outlook and financial health.
Key Highlights
- 1Deere & Company's Board of Directors approved a quarterly dividend increase to $0.35 per common share.
- 2The new dividend represents a 17% increase, or a $0.05 per share raise from the previous rate.
- 3The dividend is payable on February 1, 2011, to shareholders of record as of December 31, 2010.
- 4This marks the eighth dividend increase by the company since early 2004.
- 5Management expressed confidence in the company's future direction and strategic focus on core equipment businesses.
- 6The action signals Deere's ongoing commitment to creating long-term shareholder value.